The shares of this small cap stock, engaged in manufacturing and project businesses jumped 6 percent following a bulk deal where Nippon India Small Cap Fund bought 8.3 lakh shares at an average price of Rs 915 per share worth ~Rs 76 crore on NSE.
Price Action
With a market capitalization of Rs 7,256.63 crore, ISGEC Heavy Engineering Ltd jumped 6 percent in Friday’s trading session and made an intraday high of Rs 989.6 per share compared to its previous closing price of Rs 934.65 per share.
What Happened
Nippon India Small Cap Fund bought 8.3 lakh shares in ISGEC at an average price of Rs 915 per share worth ~Rs 76 crore on NSE.
Simultaneously, institutional investor Goldman Sachs Funds – Goldman Sachs India Equity Portfolio sold 10.4 lakh equity shares of the company at an average price of Rs 915.49 worth ~Rs 96 crore on the same day
Company Overview
ISGEC Heavy Engineering Ltd is a diversified company with a strong global presence, specializing in manufacturing and project execution. Its products include iron and steel castings, process plant equipment, boiler pressure parts and presses. The company also undertakes turnkey projects for boilers, power plants, distilleries, and factories.
Additionally, through a subsidiary, Saraswati Sugar Mills Limited, it is involved in the production of sugar and its by-products. ISGEC serves marquee clients like Tata, Reliance Industries, Vedanta, Dalmia Bharat and GAIL among others across various sectors. The company has a pan-India presence and 8 manufacturing plants located across the world.
Financial Performance
In the latest quarter, ISGEC Heavy Engineering Ltd reported a slight increase in its revenue from Rs 1,493 crore to Rs 1,497 crore. On a quarterly basis, there was a 9 percent decrease from Rs 1,644 crore in Q2 FY25.
The net profits fell 66 percent QoQ from Rs 67 crore to Rs 23 crore. This was accompanied by a massive 76 percent QoQ decrease from Rs 96 crore in Q2 FY25.
Written by Shwetha Sairam
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